Just sold all ELTK- here's why
The stock was just $23 a few months ago, now $11. There was a $10M offering at $16 only a month ago, stock now $11. There is an insider that has 3.5M shares left, who was selling like crazy last qtr in the $11s and $12s. This insider owns over half the company stock. I have decided after watching the stock action, that KIKs point of how negative it is for the one insider with so many shares left, to have been selling like crazy last qtr is a huge negative. I mean are we to think we know more than him ? In other words, something is amiss IMO. Also if you go back to the max chart on ELTK, it has spikes once in a while, but never holds for very long, before selling off strongly.
